Lochard Energy Seeks Buyer After Tumultuous Year

Australia-listed Lochard Energy Group has been buffeted repeatedly by headwinds this year – and not just the strong gusts that blow through the U.K. North Sea where its oil and gas rigs are based.

The exploration company ousted its chief executive and brought to a close a long-standing lawsuit that left it with US$9 million settlement bill. Now, the board has set itself a new challenge: Finding a buyer.